The most recent updates on Business News, Finance, and Share Market at 5:30 pm on 3 May 2024

In today’s latest business news transcript at 5:30 PM on 3 May 2024, the Indian benchmark indices experienced a volatile session, ending lower with Nifty below 22,500 amid selling across sectors, except for metals. The Sensex closed down 732.96 points at 73,878.15, while the Nifty was down 172.40 points at 22,475.80. Among the biggest Nifty losers were L&T, Maruti Suzuki, Reliance Industries, Nestle India, and Bharti Airtel, while gainers included Coal India, Grasim Industries, ONGC, Dr Reddy’s Laboratories, and Hindalco Industries.

Dabur’s stock price saw a 2% increase following the company’s announcement of strong earnings for the fourth quarter of FY24. The FMCG giant reported a consolidated net profit of Rs 341.22 crore, marking a 16.5% increase from the previous year. Additionally, Indian refined sunflower oil volumes are estimated to decline by 8-10% in fiscal 2025, with consumers shifting back to soybean oil due to a price correction.

On the other hand, Coforge’s share price plunged more than 9% after the release of its Q4 earnings report, despite recording a significant surge in net profit. CEO Tim Cook expressed confidence in Apple’s future AI roadmap during the company’s Q2 2024 earnings call, emphasizing investments in generative AI. Lastly, the inaugural Vande Bharat Metro, a compact version of the Vande Bharat Express trains, was unveiled in Kapurthala, Punjab, with trial runs set to begin in July.